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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
(AMENDMENT NO. 1)
(MARK ONE)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
COMMISSION FILE NUMBER 333-5351
UNIVERSAL OUTDOOR HOLDINGS, INC.
DELAWARE 36-3766705
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(STATE OR OTHER JURISDICTION (IRS EMPLOYER IDENTIFICATION NO.)
OF INCORPORATION OR ORGANIZATION)
321 NORTH CLARK STREET, SUITE 1010, CHICAGO, ILLINOIS 60610
REGISTRANT'S TELEPHONE NUMBER: (312) 644-8673
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
REQUIRED TO BE FILED BY SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE
REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH
FILING REQUIREMENTS FOR THE PAST 90 DAYS.
YES X NO
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THE NUMBER OF SHARES OUTSTANDING OF THE REGISTRANT'S COMMON STOCK, $0.01
PAR VALUE, AS OF JUNE 30, 1996 WAS 812,500.
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PART 1
FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
UNIVERSAL OUTDOOR HOLDINGS, INC.
AND SUBSIDIARY
BALANCE SHEETS
(Dollars in Thousands)
ASSETS
June 30, December 31,
1996 1995
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CURRENT ASSETS:
Cash $ 59 $ 19
Accounts receivable 9,654 5,059
Other receivables 563 201
Prepaid land rents 2,644 1,043
Prepaid insurance and other 1,594 1,029
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Total current assets 14,514 7,351
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PROPERTY AND EQUIPMENT 152,279 55,346
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OTHER ASSETS:
Noncomplete agreements, net of accumulated
amortization of $5,155 and $4,505 1,426 1,995
Finance costs, net of accumulated
amortization of $1,497 and $1,171 7,434 5,113
Excess of cost over fair value of
assets acquired, net of accumulated
amortization of $261 and $230 2,952 700
Other costs associated with acquisitions,
net of accumulated amortization of $781
and $686 548 525
Deposits 22 20
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Total other assets 12,382 8,353
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$179,175 $71,050
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LIABILITIES AND COMMON STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Current maturities of long term debt $ - $ 58
Accounts payable 1,281 1,225
Accrued interest 998 1,054
Deferred revenue 487 468
Accrued expenses 3,403 409
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Total current liabilities 6,169 3,214
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LONG TERM DEBT, less current maturities 182,673 106,362
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WARRANTS 9,000 -
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COMMON STOCKHOLDER'S DEFICIT:
Common stock, $.01 par value, 1,500,000
shares authorized; and 437,500 shares
issued and outstanding - -
Additional paid in capital 31,451 1,451
Common stock warrants 2,500 2,500
Accumulated deficit (52,618) (42,477)
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Total common stockholders' deficit (18,667) (38,526)
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$179,175 $71,050
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See accompanying notes to financial statements.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Universal Outdoor Holdings, Inc.
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(Registrant)
August 30, 1996 /s/ Brian T. Clingen
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Brian T. Clingen
Vice President and Chief Financial Officer